125,354 Shares in Cincinnati Financial Corporation $CINF Acquired by Weiss Asset Management LP

Weiss Asset Management LP acquired a new stake in Cincinnati Financial Corporation (NASDAQ:CINF) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 125,354 shares of the insurance provider’s stock, valued at approximately $19,724,000. Weiss Asset Management LP owned about 0.08% of Cincinnati Financial as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CINF. Lodestone Wealth Management LLC purchased a new stake in shares of Cincinnati Financial during the fourth quarter worth $25,000. Motiv8 Investments LLC purchased a new position in shares of Cincinnati Financial in the fourth quarter worth about $29,000. Cassaday & Co Wealth Management LLC acquired a new position in Cincinnati Financial during the first quarter worth about $34,000. DV Equities LLC acquired a new position in Cincinnati Financial during the fourth quarter worth about $36,000. Finally, Legacy Wealth Managment LLC ID grew its stake in Cincinnati Financial by 78.8% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 245 shares of the insurance provider’s stock valued at $40,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 65.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on CINF. Atlantic Securities set a $197.00 price objective on shares of Cincinnati Financial in a report on Wednesday, July 15th. Bank of America lowered their target price on Cincinnati Financial from $178.00 to $177.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded Cincinnati Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $201.00 price target (up from $191.00) on shares of Cincinnati Financial in a report on Wednesday, July 8th. Finally, Piper Sandler lifted their price objective on Cincinnati Financial from $175.00 to $197.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cincinnati Financial has an average rating of “Moderate Buy” and a consensus price target of $192.40.

Cincinnati Financial Price Performance

Cincinnati Financial stock opened at $182.81 on Friday. Cincinnati Financial Corporation has a 12-month low of $143.87 and a 12-month high of $194.81. The stock has a market cap of $28.28 billion, a P/E ratio of 10.45, a PEG ratio of 3.74 and a beta of 0.54. The company has a 50-day moving average price of $173.56 and a 200 day moving average price of $166.56. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.06.

Cincinnati Financial (NASDAQ:CINF) last posted its earnings results on Monday, April 27th. The insurance provider reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.17. Cincinnati Financial had a net margin of 21.33% and a return on equity of 10.57%. The company had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the business posted ($0.24) EPS. Cincinnati Financial’s revenue was up 11.6% on a year-over-year basis. Sell-side analysts anticipate that Cincinnati Financial Corporation will post 8.76 earnings per share for the current year.

Cincinnati Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd. Cincinnati Financial’s payout ratio is presently 21.50%.

About Cincinnati Financial

Cincinnati Financial Corporation (NASDAQ: CINF) is an insurance holding company headquartered in the Cincinnati area of Ohio that provides property and casualty insurance products and related services. Founded as part of the Cincinnati Insurance group, the company operates through a set of insurance subsidiaries to underwrite and service policies for both personal and commercial customers. Cincinnati Financial is publicly traded and emphasizes underwriting discipline and long-term relationships with its distribution partners and policyholders.

The company’s core business centers on property and casualty insurance, including homeowners, automobile, commercial casualty, commercial multi-peril, and specialty commercial coverages.